Building the Professional Firm: McKinsey & Co.: 1939-1968

Abstract

This case history analyzes how the founders of McKinsey & Co. built one of the world's leading management consulting firms by developing a “system” of professional norms, approach to serving clients, personnel policies, organization, governance, and ownership. The history also shows that while McKinsey’s founders resorted to considerable trial and error, it was not ad hoc: they intended to discover the best means to further a long-term vision and strategy. Moreover, their vision and strategy derived more from a priori faith and personal values than from scientific evidence or financial calculation.